What is OTP?
O.T.P is One Time Password.
- It is used to verify your online transactions, mobile number verification, e-mail verification etc. OTP is also used for two step user authentication to minimize the risk of fraud. Some examples are given below:
- Assume you are using gmail and google ask you for enable two step verification and if you are enable two step verification then you will receive a OTP every time whenever you login to your gmail account and this is increase your security.
OTP - Again assume you are using digital wallet (Paytm, FreeCharge, PhonePe etc.), now if you are going to add money to wallet (for bill payment, recharge, ticket booking etc.)by your debit card; your bank will verify your transaction by sending OTP and if you enter correct OTP then your transaction will successful.
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